Thermoelectric Devices Market Segment Forecasts Up to 2023

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Thermoelectric Devices Market - Global

Industry Analysis, Size, Share, Growth

Trends, and Forecast 2015 - 2023

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REPORT DESCRIPTION

According to an estimation, almost half of the energy is wasted as heat, for example heat generated by

vehicle and heavy equipment.Most of the heat generated is wasted as it escapes in the air. The rising

demand of energy has generated the need of trapping the wasted heat, which can serve as readily

available source of energy. The phenomenon of using this thermal energy to generate electricity is being

used widely through thermoelectric devices. Thermoelectric effects are conversion of temperature

differences to electricity or vice versa. The workingprincipal of thermal harvesting devices is based mostly

on Seedbeck effect. The thermoelectric devices are widely used for heating or cooling. However, more

recently the manufacturer are trying to use them in generating electricity on a broader basis. Although

there are many products belonging to this category, the market is still considered as niche segment with

very few buyers.

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The thermoelectric devices generate the voltage using the temperature difference between metals called

as Seedbeck effect, or inversely using voltage generate thermal energy as in Peltier effect. The market has

seen limited growth in the past few years. Earlier thethermoelectric devices’ market was divided in

consumer cooling...